The EFCC Issues a Caution to the Public Regarding 58 Operators of Illegal Ponzi

The Economic and Financial Crimes Commission (EFCC) has released a public notice concerning the operations of 58 companies that are reportedly running illegal Ponzi schemes throughout Nigeria.
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In a statement issued on Tuesday via its verified Facebook page, the anti-corruption agency cautioned that these companies masquerade as legitimate investment firms while deceiving unsuspecting Nigerians out of their hard-earned funds. The EFCC emphasized that these entities are not registered with either the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC).

The EFCC further indicated that both regulatory authorities have confirmed through separate communications that these companies do not possess the necessary registration to function as lawful investment organizations.

"The Commission has initiated legal proceedings against many of these companies. Five have already been convicted, another five have entered guilty pleas and are awaiting a review of facts, while the remaining cases are pending arraignment," the EFCC reported.

Among the firms identified by the EFCC as engaging in unlawful financial practices are:

Wales Kingdom Capital

Bethseida Group of Companies

AQM Capital Limited

Titan Multibusiness Investment Limited

Brickwall Global Investment Limited

Farmforte Limited & Agro Partnership Tech

Green Eagles Agribusiness Solution Limited

Richfield Multiconcepts Limited

Forte Asset Management Limited

Letsfarm Integrated Services

Bara Finance & Investment Limited

Vicampro Farms Limited

Brooks Network Limited

Gas Station Supply Services Limited

Brass & Books Limited

Crowdyvest Limited

Jadek Agro Connect Limited

Adeeva Capital Limited

Oxford International Group and Oxford Gold Integrated

MBA Trading & Capital Investment Limited

TRJ Company Limited

Farm4Me Agriculture Limited

Quintessential Investment Company

Rockstar Establishment Limited

SU Global Investment

Citi Trust Funding PLC

Farm Buddy

Eatrich 369 Farms & Food

Farm Sponsors Limited

Cititrust Credit Limited

Farmfunded Agroservices Limited

Chinmark Homes & Shelters Limited

Ovaioza Farm Produce Storage Limited

Requid Technologies Li.
Source@ Nairaland.com

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